The central bank yesterday said for the first half of 2020 the country’s net foreign direct investments (FDI) inflows fell by 18.3 percent to $2.997 billion from $3.670 billion same period last year because of the COVID-19 pandemic. FDIs are equity capital, reinvestment of earnings, and...
Cash remittances sent by overseas Filipinos (OF) via the banking networks increased by 7.8 percent in July but January-July data still show a decline of 2.4 percent to $16.802 billion because of the COVID-19 pandemic. The 2.4 percent year-to-date (YTD) decline is recorded both for the cash and...
The central bank’s guidelines on the establishment of digital banks is expected to be approved this month, according to a Bangko Sentral ng Pilipinas (BSP) official. BSP Deputy Governor Chuchi G. Fonacier (Bloomberg file photo) BSP Deputy Governor Chuchi G. Fonacier said the circular will be...
The 48 thrift banks supervised by the central bank continue to be stable amid the COVID-19 pandemic despite decreased deposits and portfolio, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “During the first semester of 2020, we noted a decline in thrift banks’...
Humans have fascination for gold, it is part of who we are. It is part of civilization. It is a tangible liquid asset that is always short in supply and strong demand. Thus, in times of crisis like this pandemic, governments and companies run for safe assets by buying more gold. Since March this...
The Bangko Sentral ng Pilipinas (BSP) will accelerate its gold purchases and will be more opportunistic in its gold trading, according to its highest-ranking official. MB File “BSP will be opportunistic, sell when gold prices are high,” said BSP Governor Benjamin E. Diokno over the weekend. He...
For disaster resilience The Asian Development Bank (ADB) has approved a new loan allowing the Philippines to quickly access emergency financing in the event of disasters triggered by natural hazards and public health emergencies. In a statement, the Manila-based financial institution announced...
Philippine borrowers are looking to raise fewer bonds overseas in the coming months, taking away a pillar of strength for the peso. The peso led the advance among Asian currencies this year with 4.3% gains as the nation’s borrowers raised a record $11.4 billion dollars via international bond sales...
The Bureau of the Treasury said the government will closely coordinate with the Bangko Sentral ng Pilipinas (BSP) for the issuance of their respective debt papers. National Treasurer Rosalia De Leon said yesterday that the local financial market is awash with cash and can accommodate the...
